At the Autumn Statement on 22 November 2023 the Chancellor announced the extension of the business rates relief scheme for Retail, Hospitality, and Leisure properties, worth an estimated £2.4 billion in 2024/25. This will support the businesses that make our high streets and town centres a success and help them to evolve and adapt to changing consumer demands.
The 2024/25 Retail, Hospitality and Leisure Business Rates Relief scheme will provide eligible, occupied, retail, hospitality and leisure properties with a 75% relief, up to a cash cap limit of £110,000 per business.
Which properties will benefit from relief?
Hereditaments which benefit from the relief will be those which for a chargeable day in 2024/25:
a. meets the eligibility criteria,
and
b. the ratepayer for that chargeable day has not refused the relief for the eligible hereditament. The ratepayer may refuse the relief for each eligible hereditament anytime up to 30 April 2025. The ratepayer cannot subsequently withdraw their refusal for either all or part of the financial year.
Local authorities should make it clear in their approved scheme that, for the purposes of section 47 of the 1988 Act, hereditaments where the ratepayer has refused the relief are outside of the scheme and outside of the scope of the decision of which hereditaments qualify for the discount and are therefore ineligible for the relief.
How much relief will be available?
Subject to the £110,000 cash cap per business, the total amount of government-funded relief available for each property for 2024/25 under this scheme is:
a. For chargeable days from 1 April 2024 to 31 March 2025, 75% of the chargeable amount.
For access to the scheme guidance in full, including the list of eligible Hereditaments and important information regarding Subsidy, please visit: https://www.gov.uk/guidance/business-rates-relief-202425-retail-hospitality-and-leisure-scheme
If you are not in receipt of the above but believe you are eligible for this relief, please complete a business rates enquiry form at https://www.stoke.gov.uk/xfp/form/1691
To complete the form, you will need your business rates account number and also to provide information on how you meet the qualifying criteria for Retail, Hospitality, and Leisure Relief.